Boot Barn Holdings, which operates 158 stores in the US, announced terms for its IPO. The Irvine, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, the retailer would be valued at $398 million.
Boot Barn said in a September filing that it planned to raise up to $86 million through the IPO. Underwriters have the option to purchase 750,000 additional shares.
We estimate that we will receive net proceeds … of approximately $66.9 million, said the companys filing with the Securities and Exchange Commission. We intend to use all of the net proceeds from this offering to repay a portion of our existing term loan facility, including applicable prepayment penalties and fees.
The companys stock will trade on the New York Stock Exchange under the ticker BOOT. Its expected to begin trading the week of Oct. 27.
Boot Barn, founded in 1978, is owned by Los Angeles-based private equity firm Freeman Spogli & Co., which is expected to own about 71 percent of Boor Barns common stock after the IPO, the filing said.
Boot Barn had $281 million in sales for the year through June.
